Yunnan Water Affairs (06839) issued an announcement that the company has made a decision on the sale of its rights and interests (99.98 per cent of Haifeng Yunshui and 89.89 per cent of long Haiyun Water). As the company is a state-owned holding enterprise, the sale of interests constitutes a state-owned asset, and in accordance with the relevant Chinese laws and regulations regulating the sale of state-controlled assets, the sale is subject to public listing through an approved equity exchange. The potential sale will be carried out through the Yunnan property Exchange, and the successful bidder will enter into a property rights transaction contract with the company in accordance with the relevant rules and regulations of the Yunnan property Exchange.
The Directors are of the view that the potential disposal and the transactions contemplated thereunder will be entered into on normal commercial terms, which is fair and reasonable and in the interests of the company and shareholders as a whole.